05:38 PM EDT, 04/30/2024 (MT Newswires) -- Viper Energy ( VNOM ) reported Q1 adjusted net income Tuesday of $1.19 per diluted share, down from $1.37 per share a year earlier.

Analysts polled by Capital IQ expected $0.46.

Operating income for the quarter ended March 31 was $205.4 million, compared with $169 million. Analysts polled by Capital IQ expected revenue of $201.5 million.

The company said its board declared a base dividend of $0.27 per class A share and a variable cash dividend of $0.32 per share for Q1.

The dividends are payable May 22 to shareholders of record at the close of business May 15.